Massachusetts Financial Services Co. MA increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,523,133 shares of the semiconductor company’s stock after buying an additional 335,191 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Analog Devices were worth $534,571,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Jacobus Wealth Management Inc. bought a new position in Analog Devices during the first quarter valued at $113,000. Heritage Trust Co acquired a new position in shares of Analog Devices during the first quarter worth about $114,000. Financial Architects Inc raised its position in shares of Analog Devices by 291.6% in the first quarter. Financial Architects Inc now owns 1,547 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,152 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Analog Devices by 1,250.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,890 shares of the semiconductor company’s stock worth $155,000 after buying an additional 1,750 shares during the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of Analog Devices by 29.9% in the first quarter. Manchester Capital Management LLC now owns 2,166 shares of the semiconductor company’s stock worth $178,000 after buying an additional 498 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Analog Devices, Inc. (NASDAQ:ADI) opened at 81.55 on Friday. Analog Devices, Inc. has a 52 week low of $52.17 and a 52 week high of $90.49. The company has a market cap of $29.93 billion, a P/E ratio of 31.23 and a beta of 1.27. The company has a 50-day moving average of $80.06 and a 200 day moving average of $78.13.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, May 31st. The semiconductor company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.18. Analog Devices had a net margin of 20.88% and a return on equity of 19.39%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post $4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Friday, June 9th were paid a $0.45 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. Analog Devices’s dividend payout ratio (DPR) is 67.92%.

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ADI has been the topic of a number of analyst reports. Pacific Crest increased their target price on shares of Analog Devices to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 7th. Stifel Nicolaus increased their target price on shares of Analog Devices to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, March 7th. Barclays PLC restated an “equal weight” rating and set a $90.00 target price (up previously from $85.00) on shares of Analog Devices in a research report on Monday, March 13th. Credit Suisse Group initiated coverage on shares of Analog Devices in a research report on Tuesday, March 14th. They set an “outperform” rating and a $100.00 target price on the stock. Finally, B. Riley restated a “buy” rating and set a $103.00 target price on shares of Analog Devices in a research report on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $88.67.

In other news, SVP Martin Cotter sold 2,000 shares of the company’s stock in a transaction on Friday, April 7th. The shares were sold at an average price of $80.04, for a total value of $160,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $86.50, for a total transaction of $4,108,750.00. Following the completion of the sale, the chief executive officer now directly owns 61,484 shares of the company’s stock, valued at approximately $5,318,366. The disclosure for this sale can be found here. Insiders sold a total of 67,526 shares of company stock valued at $5,684,971 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

About Analog Devices

Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.

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